Edison Partners assist their executive teams to grow and scale their companies. The firm’s investment team brings more than 275 years of combined investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating centers of excellence, executive education programs, and the Edison Director Network, the firm employs a truly integrated approach to accelerating growth and creating value for businesses. With experts in enterprise solutions, financial technology and healthcare IT, Edison targets high-growth companies located outside Silicon Valley with $10 million to $30 million in revenue. Investments also include buyouts, recapitalizations, spinouts, and secondary stock purchases. Its active portfolio has created aggregated market value exceeding $10 billion. Today, the firm manages $1.6 billion in assets. For more information on Edison Partners, please visit edisonpartners.com and follow on LinkedIn.

Edison Partners

Roivant Sciences is a biopharmaceutical company focused on completing the development of promising late-stage drug candidates. Roivant’s mission is to reduce the time and cost of developing new medicines for patients and to share those savings with the healthcare system. Roivant does this by building Vants - nimble, entrepreneurial biotech and healthcare technology companies with a unique approach to sourcing talent, aligning incentives, and deploying the technology. In addition to its biopharmaceutical subsidiaries, Roivant also builds technology-focused Vants focused on improving the process of developing and commercializing medicines.

Roivant Sciences

Mitsui & Co is a general trading company. Mitsui & Co's business area covers energy, machinery, chemicals, food, textile, logistics, finance, and more.  They will contribute to address diverse industrial needs, through procurement, supply and sales of iron and steel products and investment to processing and distribution businesses in Japan and abroad.  Through business development, investment and trading of mineral, metal resources and metals, they reinforce a stable supply of the resources and materials necessary for both industry and society. They are also active in metal recycling and other initiatives to develop industrial solutions to environmental issues.  They contribute to creating better lives through the long-term, reliable supply of social infrastructure such as electricity, gas, water,railways and other logistics infrastructure. They provide sales, financing, lease, transportation and logistics, and project investment in a wide range of machineries, including large-scale plants, marine resource development facilities,ships, and aerospace, motor vehicles, construction/mining machinery and industrial machinery.  Their chemicals business encompasses trade and investment in a range of industries, from upstream chemicals such as basic chemicals, fertilizer resources, through to downstream chemicals such as functional materials, electronics materials,fertilizers,aguricultural chemicals and specialty chemicals. They are also pursuing new initiatives such as green chemicals.  Through upstream development, logistics and trading of energy resources such as oil, natural gas/LNG ,coal and uranium, they contribute to the stable supply of energy vital to both industry and society. As part of efforts to achieve a low-carbon society, they are also actively involved in next-generation energy and environemental businesses.   Adapting to changes in consumption and lifestyles while meeting consumers’ diverse needs, they provide value-added products and services, develop businesses and make investments in the fields of food resources, food products, retail support business, medical and healthcare, fashion, forestry plantation resources, real estate-related business.  Through their ICT, Finance and Logistics business, they work on a diverse range of projects aimed at developing innovative business and expanding their business field. At the same time, they aim to strengthen their company-wide earnings base by pursuing strategic projects and new opportunities and providing specialized functions that contribute to the whole Mitsui & Co. group.  Trading in various commodities led by overseas trading subisidiaries of offices located in the Americas area. Trading in various commodites led by overseas trading subsidiaries or offices located in Europe, the Middle East and Africa area. Trading in various commodities led by overseas trading subsidiaries of offices located in the Asia Pacific area.

Mitsui & Co

Lokavant

Lokavant is an IT firm that offers real-time visualizations, risk alerts, artificial intelligence, and human insight services.

New York-based Lokavant provides data unification and tracking solutions for clinical trials. Originally spun off from parent company Roivant Sciences in April 2023, the company provides an AI-powered clinical trial intelligence platform that uses data analytics and management to increase the accuracy and efficiency of trial planning and execution. Its platform offers functions such as study planning, enrollment forecasting, trial milestone tracking, risk detection, and medical monitoring of participants. Additionally, Lokavant’s platform provides real-time, predictive analytics, which the company claims has been shown to improve enrollment forecast accuracy, reduce costs, and save time.

Incorporating technology to improve efficiency and success rate of clinical trials

Clinical Trial Technology

Lokavant Launches First AI Clinical Trial Feasibility Solution to Optimize Trials from Strategic Planning to Mid-Study Re ...

New York-based Lokavant provides data unification and tracking solutions for clinical trials. Originally spun off from parent company Roivant Sciences in April 2023, the company provides an AI-powered clinical trial intelligence platform that uses data analytics and management to increase the accuracy and efficiency of trial planning and execution. Its platform offers functions such as study planning, enrollment forecasting, trial milestone tracking, risk detection, and medical monitoring of participants. Additionally, Lokavant’s platform provides real-time, predictive analytics, which the company claims has been shown to improve enrollment forecast accuracy, reduce costs, and save time.The company launched with a proprietary data asset of historical trial data from over 2,000 studies and its platform integrates real-world disparate trial data sources and offers its platform to pharmaceutical R&amp;D sponsors and contract research organizations (CROs) that are involved in late-stage global clinical trials to facilitate data consolidation.In June 2024, the company launched a new product called "Spectrum", an AI-centered product designed to optimize clinical trials by predicting and managing trial timelines and costs in real time. Spectrum provide several key features that aid in effective clinical trial management. These include comprehensive site startup sequencing and modeling through AI and machine learning, high-throughput scenario planning, precise study enrollment predictions, accurate financial and budget forecasting, data-driven recommendations for study progression, and efficient automatic reporting and data exportation capabilities. In April 2023, the company claimed that since its founding in 2020, it has increased its customer base of CROs 3x on a YoY basis and has provided its platform for over 2,000 trials. Funding and financials In October 2023, the company raised USD 8 million in a strategic investment round led by Mitsui &amp; Co., with participation from other investors. The funds were set aside for expanding its platform’s geographic presence into the Asia-Pacific (APAC) region, with a focus on Japan. The company planned to open an APAC headquarters in Tokyo, which would receive operational support from Mitsui, including business development, staffing, and product localization.

Headquartered in Amsterdam, Castor is a cloud-based e-clinical data platform that can be used for a range of tasks and processes during a clinical trial. It offers four solutions: 1) electronic data capture (EDC) to capture and process data from multiple sources including researchers, 2) electronic patient-reported outcomes (ePRO) to collect and manage patient-reported data on a centralized platform, 3) e-consent - to enable patients to be recruited, screened, and enrolled remotely, and 4) a decentralized clinical trials (DCT) platform to assist operators with managing DCT technologies and devices through a central platform. The company’s solutions are targeted at industries like biotech and pharma, diagnostics, and clinical research organizations. Its solutions are built in line with industry-standard compliance and data protection standards including HIPAA, GDPR, and ISO 27001.Castor aimed to collect enough clinical trial research data to enable the reuse of data for AI-driven clinical trials, which would lower the costs of operating clinical trials and reduce the time taken to bring new drugs to market.Key customers and partnershipsAs of June 2024, the company had supported 14,000+ studies and 6 million patients through clinical trials across 90+ countries, since launching in 2007. In terms of therapeutic areas, Castor had supported a range of different areas, including oncology, cardiovascular diseases, and diabetes. The company had been engaged by 500+ organizations, including the World Health Organization, Click Therapeutics, and Stryker. It was the first to incorporate machine learning into its system for the identification of Covid-19 patients. The company offered free access to its system for Covid-19 research projects, with over 200 projects using the platform as of June 2022. In February 2024, the company partnered with Microsoft to use Microsoft Azure to bring modern AI to clinical trials. The feature was released to help Castor users develop their studies faster by simplifying complex tasks in the study build process. The company additionally noted that it was planning to release its first in a line of Practical AI features to all its users in public Beta. Funding and financialsThe company raised USD 45 million in Series B funding in July 2021, led by Eight Roads Ventures and F-Prime Capital. The funds were earmarked for product development, interoperability with partner systems, and market research on decentralized trials. The company had a headcount of 150 at the time of the Series B and was planning to expand to 200 by the end of 2021.

Castor

Florence Healthcare offers a platform for clinical trial management. It has four key components: 1) SiteLink to start-up and monitor remote clinical sites, 2) eBinders to digitize and store research binders, 3) eConsent to simplify and digitize the consent process, and 4) Electronic Trial Master File to digitize the storage and transfer of files between sites and research sponsors. The platform is compliant with standard industry requirements including HIPAA, 21 C.F.R Part 11, ICF/GCP, and GDPR.Key customers and partnershipsAs of June 2024, Florence supported over 18,000 research sites, across 55+ countries, with key customers including Pfizer. The usage of the company’s software tripled in 2020, driven by an industry shift toward digitalization as a result of the Covid-19 pandemic. In February 2022, the company was ranked as the best clinical trial platform out of a group of 190 for ease of setup, ease of use, and customer support.Florence partnered with Greenphire, a company focusing on patient convenience and financial management for clinical trials, in Janauary 2024. Through the partnership, Florence's platform will be integrated with Greenphire's to improve payment systems within clinical trials. Benefits of the partnership included reduced manual work for sites, faster payments, and better visibility of site activity for sponsors and Contract Research Organizations (CROs). Funding and financialsThe company raised USD 80 million in Series C funding in May 2021 led by Insight Partners. The proceeds were to be used to scale up its sales and marketing teams and improve the value proposition of the platform by reducing the time required by customers to implement and manage clinical trials.

Florence Healthcare

Huma is a UK- and US-based clinical trial tech startup that provides a digital platform to manage clinical trials, including decentralized clinical trials. The platform can be used throughout the clinical trial process, including patient recruitment, screening, electronic consent, clinical outcome assessments, patient-reported outcomes, and telemedicine. The platform is built up to industry standards in data privacy and security, including ISO 27001, 21 C.F.R. Part 11, and TxP.In June 2023, the company <a href="https://sp-edge.com/updates/19352">received FDA 510(k) Class II FDA clearance </a>for its configurable disease-agnostic platform, including its cardiovascular risk score algorithm. The company received this FDA clearance in partnership with Health Canada and it allows Huma's platform to be used to monitor patients of all ages with any condition, including pediatrics and pregnancy. The Class II clearance also enables the platform to host algorithms that provide automated AI-driven data analytics for diagnosis, screening, clinical decision-making, predictions on health outcomes, and recommendations on dosage.In July 2024, the company was <a href="https://sp-edge.com/updates/31552">estimated to be valued at nearly USD 1 billion</a> when it secured a Series D investment of USD 80 million. Key customers and partnershipsSome of the key partners working with Huma include AstraZeneca, Johnson &amp; Johnson, Bayer, Stanford University, and the University of Cambridge. As of July 2024, the platform supported 3,000+ hospitals and clinics, screened over 35 million individuals, and had 1.8 million active users across 70 countries. Huma was awarded the 2021 Prix Galien Award, which is widely considered the “Nobel Prize” for pharmaceuticals and life sciences.The company announced a partnership with Xyla Elective Care in June 2022, to provide support to the UK’s National Health Service in delivering and managing virtual wards.

Huma

Based in California and founded in 2015, Medable is a digital clinical trial management platform with a range of modules for different processes. These modules include a decentralized clinical trial platform to support decentralized trials using remote tools for data gathering, monitoring, televisits, and consent; digital patient screening to screen patients remotely and at scale; e-consent to enable patients to digitally consent for clinical trials; electronic clinical outcome assessments; and patient-reported outcomes to document data in real time and provide easy access for researchers. It also includes remote patient monitoring to make it easy for patients to record and share data with clinical research teams.Medable operates on a SaaS business model, with customers having the option of selecting and deploying only the modules required as part of their uniquely customized solution.In August 2024, Medable launched 'Medable Studio', an all-in-one application for configuring, translating, validating, and launching electronic clinical outcome assessment (eCOA) Plus solutions (which include eCOA, e-consent, televisits, and sensors) into clinical trials. The no-code suite aimed to simplify the complex eCOA launch process, offering biopharmaceutical companies greater control and transparency. Medable Studio includesda point-and-click builder for creating assessments and instruments, a visual schedule of assessments builder, a translation workbench, and a content library. The platform enabled users to rapidly build and launch complex clinical trials, with the ability to create protocol-fit study designs in hours instead of months.As of June 2024, the company offered its platforms across 60 countries and was accessible by over 120 companies. The company’s platform is compliant with industry standards, including HIPAA, FDA’s 21 CFR Part 11, and GDPR.Key customers and partnershipsAs of June 2024, Medable claimed to work with 14 out of the top 20 pharmaceutical companies, in addition to working with a range of partners, including Cognizant, Accenture, Oracle, and PwC.In February 2022, the company announced a Medable Partner Network, which brought together a range of partners across different types. This included direct-to-patient, service, data, technology, and site partners. The objective of this partnership network is to speed up the innovation process and deployment of the platform at clinical sites, creating value for Medable’s customers.In September 2022, the company announced a four year agreement with GlaxoSmithKline to use Medable’s platform for clinical trials across multiple products. Financial terms of the agreement were not disclosed.In October 2023, the company partnered with Pluto Health, a healthcare coordination company, to enhance the clinical trial experience for participants and improve data collection during trials. Through the partnership, the companies aimed to connect patients to the right medical resources including access to clinical trials and home delivery of medication. Pluto Health's platform would collect participants’ health information and create personalized care plans, while Medable would offer features such as patient identification and remote patient monitoring. The partnership also aimed to improve data quality and facilitate long-term follow-up with patients post-trial.In May 2024, Medable partnered with Masimo, a medical technology provider, to incorporate new wearable devices in clinical research. Medable announced it would include the MightySat Rx pulse oximeter by Masimo in its platform for various major clinical trials, particularly in lung and breast cancer research.

Medable

Headquartered in New York, Obvio Health provides a full service for clients, supporting them throughout the clinical trial process from the design and recruitment stages to outcome measurement and reporting. In addition to its technological platform, the company provides professional services to execute clinical trials using its in-house clinical operations team. The platform caters to 17 therapeutic areas, including cardiology, oncology, respiratory, men's and women's health, dermatology, gi, hepatology, mental health, oral health, and infectious disease (Covid-19). The platform is compliant with industry standards including 21 CFR Part 11, ICH-GDP, GDPR, and ISO 27001.According to the company, its platform was designed from the ground up to cater to digital trials run by virtual clinical teams, which resulted in faster patient recruitment (three months for Obvio compared to 12 months for physical site trials). In January 2022, the company launched an augmented electronic patient-reported outcome (augmented ePRO) module, which incorporates AI and manual scoring by experts/clinicians. The company claims this improves the accuracy and quality of data collected.In April 2024, the ObvioHealth launched ObvioGo 2.0, an enhanced platform and mobile application designed to meet the unique needs of trial sites and sponsors. The upgraded platform allows the combination of hybrid and virtual trial designs within one study. It includes features such as the ability to create site-specific workflows, integration with other clinical systems, and a streamlined translation process. Additional features include a built-in virtual assistance team, COACH, for trial tasks support and a patient identifier tool for patient registration and data correlation.As of June 2024, the platform catered to 17 therapeutic areas, including cardiology, oncology, respiratory, men's and women's health, dermatology, GI, hepatology, mental health, oral health, and infectious disease (Covid-19). The platform is compliant with industry standards including 21 CFR Part 11, ICH-GDP, GDPR, and ISO 27001. Key customers and partnershipsAs of June 2024, Obvio Health’s client base included companies like GlaxoSmithKline, Pfizer, Bayer, Danone, and General Mills. As of June 2024, the company’s operations were spread over 28 countries and had supported obtaining consent from 40,000+ patients across 40 clinical trials since its launch.In March 2022, Obvio partnered with Renovia to conduct the first fully virtual trial in urogynaecology, based on Renovia’s Leva device. The device helped patients with performing kegel exercises more effectively, in addition to monitoring compliance over the trial period.In November 2023, Obvio then partnered with Chemist Warehouse, the largest retail pharmacy chain in Australia, to improve the reach and efficiency of clinical trials. Through the partnership, Chemist Warehouse agreed to promote ObvioHealth-managed trials to its customers in Australia, using both offline and online channels. Additionally, ObvioHealth agreed to utilize Chemist Warehouse's Telehealth services for studies that require clinician assessments. The collaboration aimed to increase the awareness and convenience of clinical trials, addressing two major hurdles in participant recruitment. The long-term goal of the partnership was to expedite the introduction of innovative therapies to the market more efficiently and economically. Funding and financialsThe company raised USD 31 million of Series B funding in June 2021 led by Dedalus Group and Novotech Health. The investment was primarily strategic, with Obvio benefiting from its Dedalus partnership in terms of European clinical trial compliance, while it became Novotech Health’s preferred virtual clinical trial provider.

Obvio Health

Companies offering data and workflow management platforms and solutions to assist with the operational management of a clinical trial, including site management, monitoring processes in terms of risk and documentation, and payment automation.

Companies using remote patient monitoring tools and other connectivity solutions to enable remote collection of patient data and monitoring and run trials virtually, without requiring the patient to be physically present in the clinical trial site.

Companies that offer workflow management platforms that are used to manage logistics tasks and processes for clinical trials, primarily the randomization of assigning patients in a clinical trial and automation of logistics workflows based on clinical trial data.

This is the use of software, incorporating AI and Machine Learning technology to improve the matching process of patients with suitable clinical trials.

Companies that offer software solutions for identifying and evaluating potential trial sites, along with documentation and workflow management systems to complete the processes before launching, including electronic patient consent and other required regulatory tasks.

Includes companies that provide digital data management platforms to collect and store patient reported outcome data. These platforms are also incorporating data analytics to help understand the results and identify trends and patterns. Additionally, the platforms are enabling connectivity with remote monitoring devices, including Medical Internet of Things.

Companies that provide software tools that help with the design of clinical trials, including identifying protocol violations, collecting participant input on potential design ideas for the trial, and crowdsourcing of protocol ideas for clinical trials.

Most CTT platforms are offered on a B2B basis to companies carrying out clinical trials

Startups in this hub use IoT to support report patient monitoring and data gathering

Offers digital platforms that accelerate clinical trials and evaluations

AI/ML algorithms can be used to automate the analysis of patient data

Startups in this hub seek to improve clinical trial diversity by including underrepresented communities

PROMINENT_CATEGORY

<div>
 
 Lokavant, a company specializing in clinical trial intelligence platforms, has introduced "Spectrum." Spectrum is an AI-based product that aims to improve clinical trials by predicting and managing trial timelines and costs quickly and accurately.
 Spectrum offers several keys features for enhanced clinical trial management. These include advanced site startup sequencing and modeling using AI and machine learning, high-capacity scenario planning, precise study enrollment predictions, accurate financial and budget forecasting, data-driven suggestions for study progression, and efficient automatic reporting and data exportation functions.
 According to Lokavant, Spectrum provides several advantages. It allows in-depth analysis and improvement at the start and during clinical trials, enabling continual assessment and enhancement. It removes the need for manual involvement in financial forecasting and adjusts budgets dynamically as per timeline changes. It provides real-time suggestions for trial guidance, and its predictive analytics tools aid in identifying noncompliance issues, increase enrollment forecast accuracy, and help in saving time and money.
 
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Lokavant

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